The startup Helsing, valued at €5 billion, has become one of the most valuable in Europe due to the rising demand for UAVs and software for drones and fighter jets amidst the war in Ukraine. The company has developed the HX-2 strike drone, capable of carrying munitions and operating autonomously without GPS or direct piloting.
Helsing anticipates that growing military tensions, particularly due to the war in Ukraine, will drive demand for thousands of such drones. The company states that connecting these drones via software to other military assets, such as tanks and artillery systems, “can create a level of deterrence currently unattainable.”
The HX-2 drone has a range of up to 100 km and is equipped with an AI system called Altra, enabling it to scan terrain and identify targets even in complex electronic warfare conditions typical in Ukraine. Production began at the end of 2023, with plans to manufacture tens of thousands of units annually while reducing costs compared to competitors.
In June 2024, Germany delivered 4,000 HF-1 drones to Ukraine. These drones, jointly developed by Helsing and an unnamed Ukrainian partner, are certified by the Ukrainian government as resistant to GPS jamming. Notably, no components used in the drones are sourced from China.
Beyond drones, Helsing collaborates with major defense contractors like Airbus and Saab, modernizing Eurofighter jets and creating AI systems for radar data analysis.
Helsing’s foray into strike drones has positioned it as one of the most heavily funded startups in the defense sector. European governments are preparing for potential reductions in U.S. support for Ukraine, further boosting the demand for advanced, locally sourced defense solutions.
The German government has secured a contract with Ukraine’s Ministry of Defense to supply 4,000 HX-2 drones annually. Helsing’s commitment to producing these drones without Chinese components reflects growing concerns over supply chain security in defense technologies.
The HX-2 is a game-changer in military technology, offering unparalleled autonomy and integration with existing weapons systems, strengthening both NATO and Ukraine’s defensive capabilities.
